Naga 3 worth nearly US$4b Rescheduled for Completion in 2029

• 9 June 2023
• Local News
• 1742 Views

Naga 3 construction project in Phnom Penh, with an estimated value of nearly US$4 billion, has been rescheduled for completion in 2029, according toa recent announcement by Naga Corp Ltd. on June 4, 2023. This decision has been necessitated by a confluence of external geopolitical and macroeconomic factors, as well as the prevailing global inflationary pressures.

Despite the revised timeline, Naga Corp Ltd. remains steadfast in its commitment to fulfilling its financial obligations, emphasizing that the fundamental direction of the company remains unchanged.

The Naga 3 project, which commenced in 2019, encompasses an array of commercial buildings dedicated to diverse entertainment offerings in the heart of Phnom Penh. Once fully realized, the collective ensemble of Naga 1, 2, and 3 will boast an impressive portfolio featuring over 5,000 hotel rooms, 1,300 gaming tables, 4,500 electronic gaming machines, and a host of complementary services, crafting an unparalleled experience for visitors. (Read more)

Amidst the rescheduling, NagaWorld, a flagship property within the Naga portfolio, has demonstrated remarkable resilience and growth. In the first three months of 2023, NagaWorld reported earnings surpassing $117 million, showcasing a notable increase of 6.8% compared to the corresponding period last year. This positive trajectory underscores the enduring appeal and unwavering commitment of the Naga brand to cater to the evolving needs and aspirations of its patrons. (Read more)

As the vision for Naga 3 evolves and the project gains momentum towards its revised completion date in 2029, stakeholders and enthusiasts alike eagerly anticipate the transformative potential of this monumental endeavor.

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